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Monday, 31 December 12
"DISTRESSED", "ECO" AND "FINANCE" ARE THE THREE WORDS WHICH CHARACTERIZED 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 2012 was yet another year of speculation, anticipation, pessimism and more speculation in the shipping markets. According to the latest weekly report from shipbroker Intermodal, "if 2011 was a year of aggression with the majority of the shipping world treating it as a short slow down before the next bonanza, 2012 was a major slap in the face and a party killer making most people (there is a reason that I say most) realize the rates are on a downhill with no breaks. 3 words in 2012 in my humble opinion were the most popular in the shipping world. “Distressed,” “ECO” and “Finance”, wrote Intermoda's analyst, Mr. Timos Papadimitriou.
He noted that "starting with “Distressed,” the market has been looking for the so called “fire sales” of modern assets since 2010 to no avail, at least not to the extent many would like. But why is that? Charterers have being defaulting, owners have being defaulting, and many yards are for sure to default. But the really low prices have yet to be witnessed. We have started to slowly but surely see assets being marketed cheap in the container sector, but these 90’s units are hardly of interest any more. Will dry bulkers and tankers provide similar opportunities for modern distressed assets? It’s doubtful. Units built after 2007 had been contracted at much higher levels compared to today’s NB prices and keep in mind that the finance that these vessels operate on, is unlikely to have been completely repaid yet. As such, the banks will be reluctant to sacrifice these vessels to the market just yet. It’s more likely that we will continue seeing the “inviting offers” dance followed by the “withdrawn from the market” maneuver and finishing strong with either a private sale or a second dance of an “inviting offers.” Time will tell" he stressed.
Intermodal's analyst went on to explain what 2012 meant in terms of the crowd favorite word of "Eco". He mentioned that "ECO tankers, ECO Bulkers, ECO containers and so on. There so many different opinions, predictions and questions. Will the new vessels render the older ones obsolete? Will the ECOs see the anticipated premiums? How will they perform under bad weather? Can the older vessels be cheaply retrofitted to run as efficiently? And what if oil prices drop? The last question cracks me up every time! In my very humble opinion it will come down to the owner/operator. Undeniably, what’s more important than the vessel itself, is to know how to manage/operate a vessel. It’s “back to basics,” and the charterers are well aware of that. Yes the ECO vessels will attract curiosity but their value might not only be in the FOC they boast but also in other features they will be fitted with that will allow them to comply with new regulations and laws. Again time will tell" he said.
Finally he stated that "last but not least we have reached our final point, “Finance.” These days finance resembles “Nessie” the Loch Ness Monster. There is something out there but what exactly is it? that we don’t know yet. European banks are silent or playing dead (emphasis on “playing”) making the credit thirsty parties look to China for Nessie but with no consistency in the sightings. Truth to be told, there is some finance from China as well as other sources like the recently reported Bumi deal which was backed up by Indian money. So finance might not be easily found or even acquired, but taking the right steps and most importantly having a healthy financial past will lead you to the end of the rainbow. Once again time will tell" Papadimitriou said.
He concluded his argument by noting that "the shipping market has always been a steady supplier of surprises and curve balls. When all things point to one direction, something has always happened that defied all odds and changed the market’s course. Yes there are still A LOT of bulk carriers to be delivered, yes the global economic environment does not favor end products that are shipped with containers and yes the tanker market is struggling to find its footing but maybe the New Year will lead to new opportunities emerging. Time will indeed tell".
Source: Nikos Roussanoglou, Hellenic Shipping News
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Wednesday, 12 December 12
69.23 PERCENT OF END-USERS ARE BELIEVE, COAL PRICES ARE IN UPWARD TREND
COALspot.com - The Indonesian government’s declared coal reference price for December’ 12 has gained US cents 31 per MT M-o- ...
Wednesday, 12 December 12
CAPESIZE FREIGHT RATES TO RANGE BETWEEN $9,000 - 16,000/DAY IN THE COMING WEEKS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its regular update on the dry bulk market, BIMCO forecasted yesterday, that Capesize time-charter rates are expected to stay elevated in the foll ...
Tuesday, 11 December 12
NEWCASTLE PORT IN AUSTRALIA HAS LOADED 2,720,205 MT OF COAL W/E 10 DECEMBER 2012
COALspot.com - Newcastle port in Australia has loaded 2,720,205 MT of thermal and coking coal for week ended 0700 hours 10 December 2012, Newc ...
Sunday, 09 December 12
COAL SWAPS HAVE LOST DIRECTION DUE TO LACK OF ASIAN INTEREST
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery gained 2.43 percent M-M but lost WoW by 0.54 percent and 0.62 ...
Sunday, 09 December 12
LOW DEMAND PUSHES CHARTER RATES TOWARDS DOWN - VISTAAR
COALspot.com - The freight market has softened and BDI, The Baltic Dry Index, a measure of shipping costs for dry bulk goods, plunged below 10 ...
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- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Marubeni Corporation - India
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Planning Commission, India
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
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